Ethereum co-founder Vitalik Buterin published a comprehensive article on the limits of blockchain scalability and criticized the claims of Tesla CEO Elon Musk.
An article published on Buterin’s personal blog on May 23 highlights the trade-off between decentralization and scalability in blockchain network design. The article came in response to a tweet from Elon Musk on May 15 confirming that Dogecoin will be the flagship chain if it moves to increase the block size by 900%:
“Ideally, Doge will increase the blocking time by 10 times, increase the block size by 10 times and reduce the charges by 100 times. Then the hands win. ”
Vitalik Buterin disputes Musk’s proposal, emphasizing the need for dramatic increases in scalability and performance, “without causing hyper-centralization and without compromising the basic features that make blockchain what it is.”
Buterin stressed the need for decentralization to eliminate the risk of a single point of failure in the network and to protect the widespread network from coordinated attacks. He added that decentralization can not be achieved without ordinary users being able to work freely with the contract.
“For blockchain decentralization, it is very important that regular users can manage a node and have a culture where working nodes are common.”
Buterin also claims that segmentation can make it easier to compare with the segmentation offered by many central chains. Based on the current state of the Ethereum network, Buterin predicts that General Ethereum “will potentially process one million transactions per second with complete blockchain security.”
“But it will require effort without sacrificing decentralization that makes blockchains so valuable,” he added.
In March, the Ethereum co-founder proposed that the clusters be distributed to Ethereum before the fragmentation of ships with ETH 2.0.
Update: Elon Musk tweeted in response to the posting of this article. Embed the tweet below.